(Test Bank) Basic Marketing A Marketing Strategy Planning Approach

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ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 : Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault Chapter 02: Marketing Strategy Planning True/False Questions 1. Planning, implementation, and control are basic jobs of all managers. True False 2. The three basic jobs in the marketing management process are planning, implementation, and control. True False 3. The marketing management process consists of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans. True False 4. Strate gic planning is a top management job that includes planning only for marketing. True False 5. Strategic planning is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities. True False 6. Strategic (management) planning is a managerial process of developing and maintaining amatch between the resources of the production department and its product opportunities. True False 7. Finding attractive opportunities and developing profitable marketing strategies are the tas ks included in the marketing manager's marketing strategy planning job. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 8. Marketing strategy planning is the process of deciding how best to sell the products the firm produces. True False 9. A marketing strategy specifies a target market and a related marketing mix. True False 10. A marketing strategy is composed of two interrelated parts --a target market and a marketing mix. True False 11. A marketing strategy is composed of two interrelated parts—planning and implementation. True False 12. The two parts of a marketing strategy are an attractive opportunity and a target market. True False 13. A target market consists of a group of consumers who are usually quite different. True False 14. A marketing mix consists of the uncontrollable variables which a company puts together to satisfy a target market. True False 15. Target marketing aims a marketing mix at some specific targe t customers. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 16. Mass marketing means focusing on some specific customers, as opposed to assuming that everyone is the same and will want whatever the firm offers. True False 17. The mass marketing approach is more production -oriented than marketing -oriented. True False 18. The terms mass marketing and mass marketers mean the same thing. True False 19. The problem with target marketing is that it limits the firm to small market segments. True False 20. Potential customers are all alike. True False 21. "Mass marketers" like Target usually try to aim at clearly defined target markets. True False 22. The four "Ps" are: Product, Promotion, Price, and Personnel. True False 23. The "fourPs" of the marketing mix are Product, Position, Promotion, and Price. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 24. The "four Ps" of the marketing mix are People, Products, Price, and Promotion. True False 25. Product, Place, Promotion and Price are the four major variables (decision areas) in a firm's marketing mix. True False 26. Thecustomerisapartofthemarketing mixandshouldbethetargetofallmarketingefforts. True False 27. Althoughthecustomershouldbethetargetofallmarketingefforts, customersarenotpartofamark etingmix. True False 28. Thecustomershouldnotbeconsideredpartofa"marketingmix."True False 29. TheProductareaisconcernedwithdevelopingtherightphysical good,service,orblendofbothfor thetargetmarket. True False 30. Accordingtothe text,a firm thatsellsaservicerather thanaphysicalgooddoesnothavea product. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 31. TheProductareaofthemarketingmixmayinvolveaserviceand/oraphysicalgoodwhich satisfiessomecustomers' needs. True False 32. ThePlacedecisionsareconcernedwithgettingthe rightproducttothetarget marketattheright time. True False 33. Anyseriesoffirms (orindividuals)fromproducertofinaluserorconsumer isachannelofdistribution. True False 34. Achannelofdistributionisanyseries of firmsor individualsthatparticipatein theflow ofproductsfromproducertofinaluser or consumer. True False 35. Achannelofdistributionmustincludeanintermediary. Tru e False 36. Achannelofdistributionmustinclude severalkinds of intermediariesandcollaborators.True False 37. Personalselling,massselling,andsalespromo tion areallincludedinthePromotion areaofthemarketingmix. True False 38. Promotioniscomposedofpersonalselling,advertising,publicity,andsalespromotion.True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 39. Personalsellinginvolves directpersonalcommunicationtogetthesale,butpersonal attention is seldomrequiredafterthesale. True False 40. Customer serviceisneededwhenacustomerwantsthesellertoresolveaproblemwithapurchase. True False 41. Advertising is any paid form of nonpersonal presentation of ideas, goods, or services byan identifiedspo nsor. True False 42. Salespromotion caninvolvepoint -of-purchasematerials,storesigns,contests,catalogs,and circulars. True False 43. Sales promotion refers to those promotion activities —other than advertising, publicity,andpersonalselling —that stimulate interest,trial,orpurchasebyfinalcustomersorothersinthe channel. True False 44. Personalsellingandadvertisingarebothformsofsalespromotion.True False 45. Accordingtothetext,Promotionisthemostimportant ofthe"fourPs."True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 46. Ingeneral,nosingle elementofthe"fourPs"ismoreimportantthantheothers.True False 47. Priceisthemost importantofthefourPs.True False 48. Themarketingmixshouldbesetbeforethebesttarget market isselected.True False 49. AsintheToddlerUniversitycase,theneedsofatargetmarketvirtuallydete rminethenature of an appropriatemarketingmix. True False 50. A marketing plan and a marketing strategy mean the same thing.True False 51. Amarketingstrategyandallthe time -related detailsfor carryingout thestrategy is a"marketingplan." True False 52. Amarketing planisawrittenstatementofamarketing strategyand thetime - relateddetailsfor carryingoutthestrategy. True False 53. Implementationmeans puttingthemarketingplanintooperation.True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 54. Short -run decisions that stay within the overall guidelines set during strategy planning arecalledimplementationdecisions. True False 55. Marketingstrategyplanningshouldspecifyalloftheoperational decisionstoimplementthe plan. True False 56. CompaniessuchasCampbell'scanonlyimplement onemarketingstrategyatatime.True False 57. Mostcompaniesimplementonlyonemarketingstrategyatatime.True False 58. Amarketingprogram blendsallofthefirm's marketingplansinto one"big"planand isthe responsibility ofthewholecompany. True False 59. A"marketingprogram"blendsallofafirm's marketingplans intoone"big"plan.True False 60. Amarketingprogrammayconsist ofseveralmarketingplans.True False 61. Asuccessfulmarketingprogrambenefitsthefirmbyincreasing customerequity.True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 62. Amarketingprogramshouldlowercustomerequity. Tru e False 63. Oneway toincreasecustomerequityistofindcost - effectivewaystoservecurrentcustomersso they buymore. True False 64. Onewaytoincreasecustomerequityistofindcost -effective waystoaddnewcustomersforthefirm'sproducts. True False 65. The best way to increase customer equity i s to find cost -effective ways to increaseearnings from current customers while bringing profitable new customers into the fold.True False 66. Anextremelygoodplanmight becarriedoutbadlyandstillbeprofitable,whileapoorbutwell implementedplan can lose money. True False 67. The U.S. auto industry has become much more marketing -oriented since Henry Fordintroduced theModelT. True False 68. ManyU.S.automakers havefailedbecausetheywerenotmarketing oriented.True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 69. Managerswhoembracethemarketingconce pt realizethattheycannotjustdefinetheirline of businessin termsof theproductstheycurrently produceorsell. True False 70. Thesinglemost importantfactorinscreeningpossiblemarketingopportunitiesisthelong - runtrends facing thecompany. True False 71. Attractive opportunities for a particular firm are those that the firm has some chance ofdoing somethingabout --given its resources andobjectives. True False 72. Attractive opportunities are those that the firm has some chance of doing something aboutgiven its resource s andobjectives True False 73. A"breakthroughopportunity"isanopportunity thathelpsinnovatorsdeveloplong -term,hard - to-copymarketingstrategiesthatwillbevery profitable. True False 74. "Breakthrough opportunities" are ones that help innovators develop hard-to- copymarketingstrategiesthat willbe profitableforalong time. True False 75. Afirmwitha"competitiveadvantage"hasa marketing mixthatthetargetmarketsees asbetter thanacompetitor's mix. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 76. Finding "competitive advantages" is importa nt because they are needed for survival inincreasingly competitivemarkets. True False 77. Thereareusuallymore differentstrategypossibilitiesthanafirmcanpursue.True False 78. It is useful to think of the marketing strategy planning process as a narrowing - down process. True False 79. Themarketingstrategyplanningprocessstartswithanarrowlookatamarket,andbecome s broader thecloser thefirm comesto developing amarketingmix. True False 80. Developingasetofspecific qualitativeandquantitative screeningcriteriacanhelpamanag er define whatbusiness andmarketsthe firmwantsto competein. True False 81. Segmentationistheprocessamanagergoesthroughtodecidewhichsubgroupsofcustom ersto select. True False 82. Differentiationmeansthatthemarketing mixisdistinct fromandbetterthanwhatis available fromacompetitor. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 83. Differentiationmeansthatthefirm'smarketingmixissimilartoitscompetitors'mixes.True False 84. Differentiationoftenrequiresafirmtofine -tuneitsmarketingmixtomeet thespecificneedsof itstargetmarket(s). True False 85. Differentiationemphasizesuniquenessratherthansimilarity.Tr ue False 86. Differentiationemphasizessimilarityratherthanuniqueness.Tr ue False 87. AS.W.O.T. analysisisone waytozeroinonamarketingstrategythatiswell -suitedtothe firm. TrueFalse 88. AS.W.O.T. analysisidentifiesthe"specialweaponsortactics"usedby thecompetitorina product - market thathasthemostprofitable marketingmix. TrueFalse 89. S.W.O.T.analysis isbasedontheideathatoneofthebestwaystodevelopastrategyistoidentify and copy the marketing "strategies, weapons, outlook, and tactics" of the firm's mosteffectivecompetitor. TrueFalse ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 90. AgoodS.W.O.T.analysishelpsa managerfocusonastrategythattakesadvantagesofthe firm's opportunities and strengths while avoiding its weaknesses and threats to its su ccess.True False 91. Thelettersin"S.W.O.T.analysis"areanabbreviationforthefirstlettersofthewords"strengt hs, weaknesses, opportunitiesand threats" True False 92. Thelettersin"S.W.O.T.analysis"areanabbreviationforthefirstlettersofthewords"special weapons or ta ctics." True False 93. Marketingopportunitiesinvolvingpresentproductsandpresentmarketsarecalled"mar ket penetration"opportunities. True False 94. Marketpenetration meanstryingtoincreasesalesofafirm'spresentproductsinitspresent markets—probablythrough amore aggressive marketingmix. True False 95. Afirmwhichtriestoincreasesalesby sellingnew products innew marketsis pursuing"market development"opportunities. True False 96. A "market development" opportunity would involve a firm offering new or improvedproductsto its presentmarkets. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 97. Whenafirmtriestoincreasesalesbyofferingneworimproved productstoitspresentmarkets, this iscalled"productdevelopment." True False 98. Nike moved beyond shoes and sportswear to offer its athletic target market a runningwatch,digitalaudioplayer,andevenaportableheart - ratemonitor.Thisisanexampleofamarket developmentstrategy. True False 99. The ArrowPoint Company has just modified and enlarged its product line to meet thechanging needs of its current customers. This is an example of "market development."True False 100. WhenCadillac addedanewsportutilityvehiclecalled Escaladetothe"luxury - oriented"selectionatitsexistingdealers,itwasseeking"market development"opportunities. True False 101. IfBurgerKingaddedtacostothe "burger - oriented"menuinitsexistingrestaurants,itwouldbeseeking "marketdevelopment"opportunities. True False 102. Marketingopportunitiesthatinvolvemoving intototallydifferentlinesofbusinessare"diversification" opportunities. True False 103. Theleastrisky --butmo stchallenging -- marketingopportunitiesarediversificationopportunities. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 104. Often, attractive opportunities are fairly close to markets the firm already knows.True False 105. Whenitcomestochoosingamongdifferenttypesofopportunities, most firmstendtobeproduction -oriented andusually think firstof diversification. True False 106. Ifcustomersinothercountriesareinterestedintheproductsafirmoffers,orcouldoffer,serving themmay improveeconomiesof scale. True False 107. Unfavorabletrendsinthedomesticmar ketingenvironmentmaymake theinternationalmarketingenvironmentvery attractive. True False 108. International opportunities should be considered in the strategy planning process, buttheydon't alwayssurviveasthemost attractiveonesthat areturnedintostrategies. True False 109. Marketingmanagersalmostalways findthatopportunitiesininternationalmarketsarelessprofitablethan indomesticmarkets. True False ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault MultipleChoiceQuestions 110. Thethreebasic tasksofALLmanagers,according tothe text,are: A. planning, staffing,andevaluating. B. marketing,production,andfinance. C. execution,feedback,andcontrol. D. hiring,training,andcompensating. E. planning,implementation,andcontrol. 111. Whichofthefollowingisoneofthreebasicmarketing managementjobs? A. Todirecttheimplementationofplans B. Tocontroltheplansinactualoperation C. Toplanmarketingactivities D. Allofthe above ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 112. Themarketingmanagementprocessistheprocessof: A. Planningmarketingactivities. B. Implementingmarketingplans. C. Controllingmarketingplans. D. Allofthe above. E. Noneoftheabove. 113. Themarketing managementprocess: A. includestheon -goingjobofplanningmarketingactivities. B. ismainlyconcernedwithobtainingcontinuouscustomer feedback. C. involves finding opportunities and planning marketing strategies, but does not include themanagement tasks of im plementingand control. D. iscalled"strategicplanning." E. BothAandDare truestatements. 114. Whycan'tmarketing managersbesatisfiedjustplanningpresentactivities? A. Marketsaredynamic. B. Consumers'needskeepchanging. C. Theenvironmentkeepschanging. D. Competitorsoftenchange. E. Allofthe aboveare reasons. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 115. Themanagerialprocessofdevelopingandmaintaining amatchbetweentheresourcesofan organizationanditsmarketopportunitiesis called: A. managementbyobjective. B. marketingprogramming. C. marketingstrategyplanning. D. strategic (management)planning. E. marketplanning. 116. is the managerial process of developing and maintaining a match between anorganization'sresources anditsmarketopportunities. A. Strategic(management)planning B. Targetmarketing C. Massmarketing D. Resourceallocation E. Marketingc ontrol 117. "Marketingstrategyplanning"means: A. findingattractiveopportunitiesanddevelopingprofitablemarketingstrategies. B. findingattractiveopportunities andselectingatargetmarket. C. selectinganattractivetargetmarket. D. selectinganattractivemarketingmix. E. selectinga targetmarketanddevelopingamarketingstrategy. 118. Marketingstrategies A. enablemarketingmanagerstobesatisfiedjustplanningpresentactivities. B. ensurethateveryopportunityisgoodforeverycompany. C. donotspecifytargetmarketsandrelatedmarketingmixes. D. providealimitedpictur eofwhat afirmwilldoinsomemarket. E. arenotwhole -companyplans. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 119. Amarketing strategy A. specifiesatargetmarketandarelatedmarketingmix. B. provides afocusedbutnarrowpictureofwhatafirm willdoinsomemarket. C. isamarket -oriented,whole -companyplan. D. includestwo interrelatedparts —productmixandproductdevelopment. E. includesthemarketingmix,butdoesnotspecifycustomers. 120. Amarketingstrategy specifies: A. atarget marketandarelatedmarketing mix. B. allthecompany's resources. C. atargetmarket. D. atargetmarketandthecompany's objectives. E. amarketing mix. 121. Amarketingstrategy specifies: A. amarketing mix. B. atargetmarket andarelated marketingmix. C. atargetmarket. D. theresourcesneededtoimplementamarketingmix. E. bothAand D. 122. Amarketingstrategyconsistsof two interrelatedparts.Theseare: A. selec tionofatargetmarketandimplementingtheplan. B. selectionofatargetmarketanddevelopmentofamarketingmix. C. selection anddevelopmentofamarketingmix. D. findingattractive opportunitiesanddevelopingamarketingmix. E. findingattractiveopportunitiesandselectingatarget market. 123. Atargetmarketanda relatedmarketing mixmakeup a: A. Marketingplan. B. Marketingstrategy. C. Marketingprogram. D. Marketinganalysis. E. Marketingproposal. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 124. HerbalEssences triestosellits hairshampoosandconditionerstoadultwomen,ages18 - 24. Thesewomenrepresent HerbalEssences'primary: A. marketingstrategy. B. 4Ps. C. targetmarket. D. marketingmix. E. channelofdistribution. 125. Targetmarketing,incontrasttomassmarketing: A. Assumesallcustomershavethesameneeds. B. Assumeseveryoneisapotentialcustomer. C. Focusesonlyonsmallmarketsegments. D. Tailorsamarketingmixtofitsomespecificgroupofcustomers. E. Makesitmorelikelythatafirmwillfacedirect competition. 126. Thedifferencebetweentargetmarketingandmassmarketingisthattargetmarketing A. meansfocusingonasmall market. B. focusesonshort -runobjectives,whilemass marketing focusesonlong -runobjectives. C. focusesonspecificcustomers,whilemassmarketingaimsatanentiremarket. D. doesnotrelyone -commercebutmass marketingdoes. E. aimsatincreasedsales,whilemassmarketingfocusesonincreasedprofits. 127. "Targetmarketing,"incontrastto"mass marketing," A. ignorestheneedforthefirmto obtainacompetitiveadvantage. B. ignoresmarketsthatarelargeandspreadout. C. islimitedtosmallmarket segments. D. assumes thatallcustomersarebasicallythesame. E. Noneoftheabove iscorrect. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 128. Targetmarketing A. isaproduction -orientedapproachtomarketing. B. isessentiallythesame asmassmarketing. C. considerseveryonetobeapotentialcustomer. D. assumes thateveryoneisthesame. E. specifiessomeparticulargroupofcustomers. 129. assume(s) that everyone is the same —and consider(s) everyone to be a potentialcustomer. A. Massmarketers B. Targetmarketing C. Massmarketing D. Targetmarketers E. Objectivemarketing 130. Marketingmanagersshouldviewpotential customersas A. allalike. B. allhavingthesameneeds. C. alwayswantingtomeetneedsinthesameway. D. groupedintosegmentsof similarconsumers. E. differenttypes,butallhavingthesamecharacteristics. 131. Goodmarketingstrategyplannersknowthat: A. firmslikeNabiscoandWal -Martaretoolargetoaimatclearlydefinedtargetmarkets. B. targetmarketing doesnotlimit onetosmallmarketsegments. C. massmarketingis oftenverydesirable andeffective. D. theterms"massmarketing"and"massmarketer"mean basicallythesamething. E. targetmarkets cannotbelargeandspreadout. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 132. Marketingstrategyplannersshouldrecognize that: A. targetmarketsshouldnotbelarge andspreadout. B. massmark etingisoftenveryeffective anddesirable. C. largefirmslikeGeneralElectric,Target,andProcter&Gamblearetoolargetoaimatclearly definedmarkets. D. targetmarketingisnotlimitedtosmallmarketsegments. E. theterms"massmarketing"and"massmarketers"meanessentiallythesamething. 133. "Targetmarketing,"incontrastto"massmarketing," A. islimited tosmall marketsegments. B. assumesthatallcustomersarebasicallythesame. C. ignoresmarketsthatarelargeandspreadout. D. focusesonfairlyhomogeneousmarketsegments. E. Allofthe above. 134. Identifytheincorrectstateme ntregardingtargetmarketing. A. Targetmarketingisnotmassmarketing. B. Massmarketers cannotdotargetmarketing. C. Targetmarketingcanmeanbigmarketsandprofits. D. Marketing -orientedmanagerspractice"targetmarketing." E. Itaimsatamarketingmix thatistailoredtofitspecifictarget customers. 135. Themarketingmix A. includesfourvariables --People,Place,Promotion,andPrice. B. includesthetargetmarket. C. helpstoorganizethemarketingstrategydecisionareas. D. includesfourvariables -- advertising,personalselling,customerservice,andsalespromotion. E. doesnotfo cusontarget customers. ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 136. The"fourPs"ofamarketingmix are: A. Production,Personnel,Price,andPhysicalDistribution B. Promotion,Production,Price,andPeople C. Potentialcustomers,Product,Price,andPersonalSelling D. Product,Price,Promotion,andProfit E. Product, Place,Promotion,andPrice 137. Amarketingmix consists of: A. policies,procedures,plans,andpersonnel. B. thecustomerandthe"fourPs." C. allvariables,controllableanduncontrollable. D. product,price,promotion,andprice. E. noneofthe above. 138. Afirm's"marketingmix"decisionareas wouldNOTinclude: A. Promotion. B. People. C. Price. D. Product. E. Place. 139. Afirm's"marketingmix"decisionareas wouldNOTinclude: A. Price. B. Promotion. C. Product. D. Place. E. Profit. 140. Whichofthe followingisNOToneofthefourvariablesinamarketingmix? A. Price B. Product C. Promotion D. Payment E. Place ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault ACCT 347 Test-Bank -for-Basic -Marketing -A-Marketing -Strategy -Planning -Approach -18th- Edition -by-Perreault 141. Whichofthe followingistrue? A. Theproduct"P"inthemarketingmixstandsforonlyphysicalgoods. B. Theproduct"P"inthemarketingmixstandsforbothphysicalgoodsandservices. C. Theproduct"P"inthemarketingmixstandsforonlytangiblemerchandise. D. Theproduct"P"in themarketingmixstandsforbothphysical goodsandtangiblemerchandise. 142. "Product"isconcernedwith: A. branding. B. packagingandwarranty. C. physicalgoods. D. services. E. alloftheabove mightbeinvolved. 143. "Product"isconcernedwith: A. brandingandwarranties. B. physicalgoodsand/or services. C. packaging. D. developingthe rightnewproductforamarket. E. alloftheabove mightbeinvolved. 144. "Product"isconcernedwith: A. services. B. developingproductswhichwillsatisfysomecustomers'needs. C. designing,packaging,andbrandingnewproducts. D. physicalgoods. E. Allofthe abovemightbeinvolved. 145. "Product"isNOTconcernedwith: A. qualitylevel. B. branding. C. wholesaleprice. D. packaging. E. warranty.